Valance

[Sarah]

To furnish with a valance; to decorate with hangings ordrapery.His old fringed chair valanced around with party-colored worstedbobs. Sterne.

[Sarah]

Perceived utility
Allegedly a contraction of the words value and performance.

[Couch Potatoe]

a short piece of material that hangs down, usually around the base of a bed

[Dave Paprocki]

A length of decorative drapery attached to the canopy or frame of a bed in order to screen the structure or the space beneath it.